Santander has cut the rates on over 20 mortgage products in its range by up to 0.5 percentage points.

The reductions are on products between 60% to 90% loan to value (LTV).

Changes include:

• 90% five-year fixed reduced by 0.5 percentage points to 5.49% with upfront £99 fee (fee reduced from £495) including the Homebuyer Solution (free standard mortgage valuation and £250 cashback on completion)
• 85% five-year fixed reduced by 0.10 percentage points to 5.19% with no fee and Homebuyer Solution
• 75% five-year fixed reduced by 0.20 percentage points to 3.99% with £995 fee and Homebuyer Solution
• 70% five-year fixed reduced by up to 0.10 percentage points to 3.79% with £995 fee
• 60% two-year fixed reduced by 0.10 percentage points to 3.19% with £995 fee and Remortgage Solution (free standard mortgage valuation, and either free legals or £250 cashback on completion)

“Now is a great time to take advantage of the low rates available up to 90% LTV,” said Phil Cliff, director of Santander Mortgages.

“These rate reductions are further proof that, as one of the major lenders in the UK, we’re doing our bit to help customers even in tough market conditions.”